Valeo Financial Advisors LLC Sells 1,188 Shares of Simon Property Group, Inc. (NYSE:SPG)

Valeo Financial Advisors LLC cut its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 12.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,256 shares of the real estate investment trust’s stock after selling 1,188 shares during the period. Valeo Financial Advisors LLC’s holdings in Simon Property Group were worth $1,422,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in shares of Simon Property Group during the third quarter worth $30,000. Synergy Asset Management LLC acquired a new position in Simon Property Group during the 4th quarter worth about $41,000. Wingate Wealth Advisors Inc. bought a new stake in Simon Property Group during the 4th quarter worth about $41,000. Eastern Bank acquired a new stake in Simon Property Group in the 3rd quarter valued at about $42,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Simon Property Group in the fourth quarter worth about $45,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Stock Down 0.6 %

Shares of NYSE SPG opened at $185.12 on Friday. Simon Property Group, Inc. has a 52-week low of $139.25 and a 52-week high of $188.14. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The stock has a market cap of $60.40 billion, a P/E ratio of 25.50, a P/E/G ratio of 9.58 and a beta of 1.74. The firm has a 50 day moving average price of $175.72 and a 200 day moving average price of $171.45.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. Analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a $2.10 dividend. The ex-dividend date is Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 4.54%. Simon Property Group’s dividend payout ratio is presently 115.70%.

Analyst Ratings Changes

Several analysts have recently commented on SPG shares. Mizuho increased their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective on the stock. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Finally, Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and raised their price target for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $175.10.

Insider Buying and Selling

In related news, Director Reuben S. Leibowitz bought 465 shares of Simon Property Group stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average cost of $168.59 per share, with a total value of $78,394.35. Following the purchase, the director now owns 55,919 shares in the company, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.50% of the stock is owned by company insiders.

Simon Property Group Profile

Simon Property Group, Inc (NYSE:SPG) is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.